ADA, the native cryptocurrency of the Cardano blockchain, is down 2.50% in the past 24 hours after recording a slight rebound in the day on Tuesday. It is currently trading in the $0.25 area.
ADA’s recovery on Tuesday was part of a broad recovery in crypto markets, despite the decision taken by the Bank of Japan. VSette The latter unexpectedly changed its so-called “yield curve control” policy, which caused Japanese 10-year government bond yields to rise nearly 20 basis points (similar to the effect of a rate hike).
However, ADA’s price predictions remain pessimistic. ADA remains down around 19% on the month. And compared to the start of the quarter, ADA has lost around 40% of its value, and many bears are convinced that the cryptocurrency could register further losses.
ADA traders have largely ignored the fact that the founder of Cardano, Charles Hoskinsonwho is also the CEO ofInput Output Hong Kong (IOHK), fell out with the Ripple community. IOHK is the non-profit company responsible for the development of Cardano.
Hoskinson’s fed up with the Ripple community, Ripple’s CTO’s response
Late last week, Cardano founder Charles Hoskinson uploaded a video to Twitter explaining why he will no longer participate in discussions involving members of the Ripple community.
The Ripple community has repeatedly unfairly attacked Hoskinson after taking comments he made about their project out of context, he claimed, before accusing the Ripple community of being the most toxic in the world. crypto space.
Hoskinson also went further by criticizing XRP itself saying that the token offers “no partnership or technical value.”
David Schwartz, CTO of Ripple, came to the community’s defense in a response to Hoskinson’s tweet:
Price Prediction: Slower Pace of ADA Decline, But Its Price Could Go Down to $0.20
The pace of ADA’s decline has led some traders to believe that the price of the cryptocurrency may now be experiencing some stabilization. ADA’s 14-day Relative Strength Index (RSI) has been below 30 for the past five days, meaning ADA is in the ‘oversold’ phase. Over the past few months, when the RSI indicated that ADA was in oversold territory, its price generally stabilized or even experienced a modest short-term recovery in the days and weeks that followed.
ADA’s latest dip over the past few weeks also saw it break below a declining trending channel that had been observable since August. Traders took this as another sign that the cryptocurrency is losing value at a likely unsustainable rate.
However, although the technical indicators are in favor of some stabilization in the short term, the price of ADA seems vulnerable to further significant losses in the medium term. Indeed, a longer-term downtrend, from the September 2021 all-time high at around $3.16, remains intact. The cryptocurrency also continues to trade below all of its major moving averages, which are all trending lower, with the 21-day moving average recently serving as a key resistance zone. Many bears are betting on a test of support below $0.20 in early 2023.
Altcoins offer faster returns
Cryptocurrencies have continued to trade sideways for a few weeks now, leading some traders to look for alternatives with higher short-term potential.
FightOut (FGHT): launch of the pre-sale
FightOut, a brand new move-to-earn (M2E) fitness app and gym chain is looking to bring the fitness lifestyle to web3 and has started pre-sale. Investors believe the project could transform the existing web3 M2E landscape. Indeed, while existing M2E apps, such as STEPN require the purchase of expensive non-fungible tokens (NFTs), FightOut takes a more holistic approach to rewarding its users for exercise and activity, and requires no purchase.
FightOut FGHT tokens are currently selling at 60.06 for 1 USDT, and interested investors are encouraged to act quickly to acquire their tokens, as the pre-sale has already raised over $2.17 million in just a few days only. FGHT is the token that will power the FightOut crypto ecosystem.
Dash 2 Trade (D2T): the pre-sale enters its final phase
Those looking to invest in a promising crypto trading platform should consider Dash 2 Trade. This up-and-coming social analytics and trading platform hopes to take the crypto trading space by storm with its many unique features.
These include trading signals, social and on-chain sentiment indicators, pre-sale token rating system, token quote alert system and strategy back-testing tool. The Dash 2 Trade ecosystem will be powered by the D2T token, which users will need to purchase and hold in order to access platform functionality.
Dash 2 Trade is currently conducting a token pre-sale at deeply discounted rates and sales recently topped $10.24 million. The pre-sale dashboard will be released soon, with the development team currently ahead of schedule. The tokens are currently selling at $0.0533 each and will be listed on several centralized exchanges in less than a month.
Calvaria (RIA): last stage of pre-sale
Big blockchain-based games like Axie Infinity have lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, a cryptocurrency battle card game seeks to drive crypto adoption by bridging the real world and crypto through fun and accessible gameplay.
Calvaria has already raised $2.51 million, and a crypto whale bought nearly $97,500 worth of tokens in a single purchase earlier this month. The pre-sale is in the final stages, with only 20% of the tokens remaining.
Follow our affiliate links:
- To buy cryptocurrencies in the SEPA Zone, Europe and French citizensvisit Coinhouse
- To buy cryptocurrency in Canada visit bitbuy
- To secure or store your cryptocurrenciesget Ledger or Trezor wallets
- To trade your cryptos anonymouslyinstall the NordVPN app
To accumulate coins while playing:
- In poker on the CoinPoker gaming platform
- To a global fantasy football on the Sorare platform
Stay informed through our social networks: